American Opportunity Foundation
- Assets
- $2.3m
- Revenue
- $250.2k
- Investments
- $164.5k
- Employees
- 1
- Location
- Huntington Beach, CA
- Founding
- 01/1985
- Data as of
- 12/2021
- EIN
- 33-0861387
Organization Overview
American Opportunity Foundation is located in Huntington Beach, CA. The organization was established in 1985. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. American Opportunity Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, American Opportunity Foundation generated $250.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $378.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ACQUIRE, REHABILITATE, RENT AND SELL AFFORDABLE HOUSING TO LOW-INCOME, ELDERLY, AND/OR MENTALLY OR PHYSICALLY CHALLENGED PERSONS OR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL PROPERTIES ARE REHABILITATED AND LEASED TO PROVIDE AFFORDABLE HOUSING TO LOW-INCOME, ELDERLY AND/OR MENTALLY OR PHYSICALLY CHALLENGED PERSONS OR FAMILIES.
OPERATION OF TWO APARTMENT BUILDINGS FOR LOW INCOME TENANTS.
TO PROVIDE ELEVEN AFFORDABLE RENTAL UNITS TO LOW-INCOME AND VERY LOW-INCOME SENIORS IN ALHAMBRA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ajay Nayer Vice President | Officer | 40 | $118,383 |
Brett Mascaro Senior Vp, Trustee | OfficerTrustee | 1 | $0 |
Kathryn T Walker President, Trustee | OfficerTrustee | 3 | $0 |
Sharon Tran Secretary | Officer | 1 | $0 |
Daniel Do-Khanh Trustee | Trustee | 0.2 | $0 |
San Pham Trustee | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $249,751 |
| Investment income | $466 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $250,217 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $144,997 |
| Compensation of current officers, directors, key employees. | $14,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,420 |
| Fees for services: Management | $40,800 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,287 |
| Information technology | $2,770 |
| Royalties | $0 |
| Occupancy | $10,846 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $304 |
| Interest | $13,679 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $68,873 |
| Insurance | $1,686 |
| All other expenses | $1,126 |
| Total functional expenses | $378,624 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $225,001 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $27,558 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,611 |
| Net Land, buildings, and equipment | $1,905,016 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $164,452 |
| Investments—program-related | $0 |
| Intangible assets | $4,096 |
| Other assets | $0 |
| Total assets | $2,333,734 |
| Accounts payable and accrued expenses | $34,519 |
| Grants payable | $0 |
| Deferred revenue | $506 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,711,637 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,999 |
| Total liabilities | $2,757,661 |
| Net assets without donor restrictions | -$423,927 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,333,734 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Partners Los Angeles, CA | $58,586,885 | $87,387,507 |
Mid-Willamette Valley Community Action Agency Inc Salem, OR | $25,806,708 | $62,767,748 |
Community Action Partnership Of Orange County Garden Grove, CA | $21,104,337 | $38,929,192 |
Spanish-Speaking Unity Council Of Alameda County Inc Oakland, CA | $60,376,755 | $36,217,909 |
Pacific Asian Consortium In Employment Los Angeles, CA | $13,935,624 | $30,857,237 |
Rural Community Assistance West Sacramento, CA | $196,708,835 | $32,872,425 |
Burning Man Project San Francisco, CA | $30,700,234 | $27,748,874 |
Bay Area Community Benefit Organization Oakland, CA | $912,473 | $25,722,786 |
Human Solutions Inc Portland, OR | $41,573,265 | $24,704,381 |
East Bay Asian Local Development Corporation Oakland, CA | $146,938,594 | $23,961,947 |
Partners In Development Foundation Honolulu, HI | $6,037,007 | $19,233,237 |
Pasadena Center Operating Company Pasadena, CA | $155,500,535 | $24,244,402 |